Moody’s assigns Global Medical loan, notes B1

Moody’s Investors Service said it assigned B1 ratings to Global Medical Response Inc.’s new senior $1.37 billion secured term loan due 2025 and $500 million of senior secured notes due 2025.

The proceeds will be used to refinance the outstanding balance on the term loan B maturing in 2022 and to cover transaction fees and expenses.

“The refinancing transaction will extend maturities in a leverage-neutral manner,” Moody’s said in a press release.

Moody’s also affirmed the company’s B2 corporate family rating, B1 senior secured debt rating and Caa1 unsecured debt rating. The outlook is stable.

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